How do I assign transactions (expenses) to a Project/Job?

I of course want to keep track of the expenses associated with each Project/Job. I am using Quicken H/B.

Answers

  • volvogirl
    volvogirl SuperUser ✭✭✭✭
    I don't know the Home & Business version so there might be a specific way.  I have Premier and tag each income & expense with the job.  

    I use Tags (previously called Class) for each job for my husband’s business. Then when I run a report I can sort it by job. So an expense entry might look like this...

    Survey Expenses:Supplies/Maple Street

  • jprash78
    jprash78 Member ✭✭
    I'm thinking this is truly the best way volvogirl. My hope is there would be a way, when entering a transaction (expense), there is a way to assign/associate it to a Project/Job in a more direct way, i.e. another data field just like Category or Tag or Memo that is a drop-down list of the Projects/Jobs that have been created.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    If you have business-related expenses that need to be assigned to Projects/Jobs which you can bill out to your customers then you can use the Vendor Invoices account to record these expenses. Create a Vendor Invoice and assign the appropriate Project/Job code to this invoice.
  • jprash78
    jprash78 Member ✭✭
    @UKR can all expenses for a particular project/job be recorded in one Vendor Invoice?
  • UKR
    UKR SuperUser ✭✭✭✭✭
    Yes. A Vendor Invoice is your internal record of items you had to purchase or other expenses you incurred. A single Vendor Invoice can have as many line items as you need (up to a certain limit around 200 or so).
    But ... you can have as many Vendor Invoices as necessary, to properly record each individual expense and how you paid for it, e.g., office supplies bought from Office Max were paid with your business credit card:
    1 Vendor Invoice to Office Max, Project X, with line items as needed, categorized as business expenses
    1 Payment to Vendor transaction, marked as "Withdraw from: [Business VISA]"
    And so on, for each expense a pair of Invoice and Payment transactions
  • jprash78
    jprash78 Member ✭✭
    Where do I find this "Vendor Invoice"? I'm familiar with Customer Invoice but I do not see anywhere to set up an invoice that is a Vendor Invoice.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    If it doesn't already exist and is hidden, you need to add an account named Vendor Invoices or Accounts Payables by starting the Tools Menu / Add Account process. Once started, select the Business AR & AP tab, then select Accounts Payables. Give the account a name and follow the remainder of the setup process.
    Now you can go into the new Vendor Invoices account and start creating Vendor Invoices.

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  • jprash78
    jprash78 Member ✭✭
    Okay I'll give that a try
  • jprash78
    jprash78 Member ✭✭
    edited October 2020
    @UKR just a suggestion, Quicken Help ain't all that. I actually searched "Vendor Invoice" after you evoked the terminology and that phrase does not exist.
    @Quicken you should seriously consider updating your documentation because it hasn't changed since the day I started using it over ten years ago. Much improvement is needed here. Video tutorials would be an enormous improvement.
  • UKR
    UKR SuperUser ✭✭✭✭✭
    That's odd. Here are the results from my search of Quicken Help:
    And, looking under the Contents tab, there's a whole book Manage your business, with a chapter about Accounts Payables.

  • jprash78
    jprash78 Member ✭✭
    edited October 2020
    I understand why you are confused because you aren't seeing things from my less experienced perspective. Searching "vendor invoices" returns nothing saying "vendor invoices", and even in your screenshots "vendor invoices" appears nowhere. It's not unrealistic to expect search for a term/phrase would return that term/phrase. That is how effective search functionality works, no? Did I find an explanation of what a vendor invoice is? Yes. Only after digging, i.e. expanding the drop-down arrows to reveal more information. At any rate, my point is you talk to me like I could have just searched the help and found the answer to all my questions. You're wrong though.
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